Is Bitcoin about to enter another bear phase? From the current market structure, the four-hour chart has formed a descending flag consolidation pattern, with price trading along the lower band of the Bollinger Bands. The MACD death cross shows no signs of convergence, and after breaking below the 70000 level, we're seeing a collapse of bullish momentum with bears taking control. Support gaps have opened below, and on-chain data shows that exchange inflows surged in the past 24 hours. Multiple holders are concentrating their selling, which is undoubtedly intensifying market panic. Therefore, Qingyao's side still recommends a bearish outlook.

Thursday Evening Trading Suggestions:

Bitcoin: Sell on rebounds to 70500-71000, target 68000, and if that breaks, continue to target 66000!

Ethereum: Sell on rebounds to 2180-2210, target 2080, and for swing trading target 1860!